Updated on 16 August 2012
Rosetta Genomics wins 2012 North American Frost & Sullivan Award for Entrepreneurial Company of the Year award
Singapore: Frost & Sullivan recognized Rosetta Genomics with the 2012 North American Frost & Sullivan Award for Entrepreneurial Company of the Year. The award was given based on Rosetta's recent analysis of the next-generation diagnostics market. Rosetta Genomics successfully competes in a concentrated market and has achieved significant product adoption, while bringing value to both patients and investors.
A recent Frost & Sullivan analysis on the US cancer biomarkers market confirmed the growing credibility of clinical microRNA biomarkers, as compared to other potential clinical biomarkers, such as circulating tumor cells. Rosetta Genomics was one of the first providers of microRNA-based diagnostics in 2007, and the platform is now clinically validated and featured in 37 peer-reviewed publications. Rosetta Genomics holds a leading patent position in the competitive microRNA diagnostics space. Building upon this foundation, it now has four microRNA-based diagnostic products on the market.
The company's flagship product, the miRview mets2, has become an indispensible tool for clinicians in the evaluation of their cancer of unknown/uncertain primary (CUP) patients. The miRview mets2 assay measures the expression level of 64 microRNA biomarkers, which are then processed by an algorithm composed of two classifiers and a decision-maker that can accurately identify the origin of the patients' tumor for 42 different cancer tissue types, with 85 percent sensitivity and 99 percent specificity.
Mr Winny Tan, research analyst, Frost & Sullivan, said that, "Rosetta Genomics' perfectly executed strategic plan involved a highly differentiated flagship product, continuous clinical validation in peer-reviewed journals and post-marketing studies, and prioritization of crucial relationships. The true testament to the soundness of the company's growth strategy was obtaining critical Medicare coverage and current procedural terminology (CPT) code assignment for the miRview® mets2 test in June 2012."
Mr Tan further said that, "Rosetta Genomics' self-scrutiny followed by corrective action is commendable, as many companies that are not as entrepreneurial fail to address recognized problems."